A Cryptographic Study of Tokenization Systems

Sandra Díaz-Santiago, Lil Maria Rodriguez-Henriquez, Debrup Chakraborty

2014

Abstract

Payments through cards have become very popular in today’s world. All businesses now have options to receive payments through this instrument, moreover most organizations store card information of its customers in some way to enable easy payments in future. Credit card data is a very sensitive information and its theft is a serious threat to any company. Any organization that stores such data needs to achieve payment card industry (PCI) compliance, which is an intricate process. Recently a new paradigm called “tokenization” has been proposed to solve the problem of storage of payment card information. In this paradigm instead of the real credit card data a token is stored. To our knowledge, a formal cryptographic study of this new paradigm has not yet been done. In this paper we formally define the syntax of a tokenization system, and several notions of security for such systems. Finally, we provide some constructions of tokenizers and analyze their security in the light of our definitions.

Paper Citation

in Harvard Style

Díaz-Santiago S., Maria Rodriguez-Henriquez L. and Chakraborty D. (2014). A Cryptographic Study of Tokenization Systems . In Proceedings of the 11th International Conference on Security and Cryptography - Volume 1: SECRYPT, (ICETE 2014) ISBN 978-989-758-045-1, pages 393-398. DOI: 10.5220/0005062803930398

in Bibtex Style

@conference{secrypt14,
author={Sandra Díaz-Santiago and Lil Maria Rodriguez-Henriquez and Debrup Chakraborty},
title={A Cryptographic Study of Tokenization Systems},
booktitle={Proceedings of the 11th International Conference on Security and Cryptography - Volume 1: SECRYPT, (ICETE 2014)},
year={2014},
pages={393-398},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0005062803930398},
isbn={978-989-758-045-1},
}

in EndNote Style

TY - CONF
JO - Proceedings of the 11th International Conference on Security and Cryptography - Volume 1: SECRYPT, (ICETE 2014)
TI - A Cryptographic Study of Tokenization Systems
SN - 978-989-758-045-1
AU - Díaz-Santiago S.
AU - Maria Rodriguez-Henriquez L.
AU - Chakraborty D.
PY - 2014
SP - 393
EP - 398
DO - 10.5220/0005062803930398